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TheCityUK responds to the announcement of Sadiq Khan as new Mayor of London

Chris Cummings, Chief Executive, TheCityUK, said,

TheCityUK congratulates Sadiq on his election as the new Mayor of London. As the heart of UK-based financial and related professional services – and the leading international financial centre – it is vital that London’s continued attractiveness as a world-leading place to do business is the top priority for the new Mayor.

Part of the challenge for London is to ensure the right transport infrastructure, digital connectivity, skills base and housing policies are in place to enable our industry and hence our nation’s capital to prosper. When our industry does well, London does well.

Our industry attracts more foreign direct investment than any other industry and thereby creates much sought after high value jobs and economic growth. The Mayor should prioritise policies that continue to make London a globally attractive place to do business. Today, the brightest and the best talent from across the world wants to work in the capital. As an industry we are keen to maintain this trend while also developing the skills of future generations.

One of London’s great strengths is the access it provides for firms looking to do business with the EU and its 500 million customers. The financial and related professional services industry could not be clearer in its view: while leaving the EU may not be ruinous for the UK economy, we will do better staying in it, and continuing to seek reform that benefits all of Europe’s citizens. We look forward to working with Sadiq to champion our industry here in London – encouraging policies that promote growth and progress – and in major markets across the world.